Cole's civil trial canceled

Bruce Cole, former CEO of the proposed sweetener facility in Moberly, is in jail at the Randolph County Justice Center in Huntsville.

Cole is accused of five felony counts that if convicted and sentenced consecutively, carry a maximum penalty 55 years in prison and a fine of up to $4 million. The charges are stealing by deceit and four counts of securities fraud.

But, there is more going on in his life. Bruce and his wife, Nanette Cole, were facing a civil trial scheduled for Feb. 25. Judge Dennis Dow canceled the trial that alleges they personally received $1.4 million from a $39 million bond fund intended to finance construction and equipment for Moberly's proposed sweetener facility, Mamtek.

The Cole's are representing themselves in the bankruptcy proceeding.

Dow canceled the trial but gave the Coles only two weeks to respond to a request from the plaintiff, bankruptcy trustee Bruce Strauss, for a summary judgment on some issues in the case.

In the state of California, Cole is also being sued by the Securities and Exchange Commission.